Uncertainty heightens as FG denies fuel price hike

The Federal Government’s denial of any increase in the price of Premium Motor Spirit, popularly called petrol, has heightened the uncertainty over the cost of the commodity across the country.

DAILY POST had reported a PMS pump price adjustment.

However, the Minister of State for Petroleum Resources, Chief Timipre Sylva, in a statement issued by his media assistant, Horatius Egua, in Abuja on Friday, denied giving any directive to increase PMS.

“President Muhammadu Buhari, who doubled as the Minister of Petroleum Resources, has not approved any increase in the price of PMS or any other petroleum product.

“There is no reason for the President(Buhari) to renege on his earlier promise not to approve any increase in the price of PMS at this time,” he said.

In a chat with DAILY POST on the development, the president Independent Petroleum Marketers Association of Nigeria, IPMAN, Chinedu Okoronkwo, said there is uncertainty about whether there would be a fuel price increase or not.

“The situation is still unclear at the moment; hopefully, by Monday, we will be adequately briefed on the depot price of PMS, but for now status remains”, he said on Saturday.